Royal Bank Of Canada Reiterates “Outperform” Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank Of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $49.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 48.94% from the company’s previous close.

IDYA has been the topic of a number of other reports. The Goldman Sachs Group increased their target price on IDEAYA Biosciences from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Truist Financial lifted their price objective on shares of IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. UBS Group initiated coverage on shares of IDEAYA Biosciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $48.69.

IDEAYA Biosciences Trading Up 6.4%

IDYA opened at $32.90 on Wednesday. The company has a fifty day moving average price of $34.23 and a two-hundred day moving average price of $30.46. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $39.28. The company has a market cap of $2.89 billion, a P/E ratio of -25.11 and a beta of 0.10.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.09. The firm had revenue of $21.75 million during the quarter, compared to analyst estimates of $5.95 million. During the same quarter in the prior year, the business earned ($1.49) earnings per share. The business’s quarterly revenue was up 55.7% on a year-over-year basis. On average, research analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D grew its stake in IDEAYA Biosciences by 11.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 100,827 shares of the company’s stock valued at $2,119,000 after buying an additional 10,047 shares in the last quarter. General American Investors Co. Inc. boosted its holdings in shares of IDEAYA Biosciences by 7.7% in the third quarter. General American Investors Co. Inc. now owns 280,261 shares of the company’s stock worth $7,626,000 after acquiring an additional 20,000 shares during the period. Candriam S.C.A. grew its position in shares of IDEAYA Biosciences by 10.8% in the third quarter. Candriam S.C.A. now owns 1,012,967 shares of the company’s stock valued at $27,563,000 after purchasing an additional 98,567 shares in the last quarter. Knights of Columbus Asset Advisors LLC purchased a new position in shares of IDEAYA Biosciences in the third quarter valued at $934,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of IDEAYA Biosciences by 19.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,787 shares of the company’s stock valued at $290,000 after purchasing an additional 2,227 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.